For the first quarter of 2020, Maroc Telecom does better than last year despite the Covid-19
April 21st 2020
Despite the coronavirus crisis that is affecting the country and destabilizing all sectors of the national economy, including telecoms, the incumbent operator Maroc Telecom published positive financial results for the first quarter of 2020. The company has presented a consolidated turnover of 9,309 million dirhams (922 million USD), up 4.0% compared to the same period in 2019. This performance results from the combined growth of the group’s activities in Morocco and the international.
In Morocco, the telecoms company generated sales of 5,400 million dirhams (535 million USD), up 0.3% compared to the same period in 2019. Mobile data once again weighed in business revenue alongside voice. With regard to the group’s overall revenues, Morocco weighed in at 58.1% in turnover.
Internationally, the ten African subsidiaries of Maroc Telecom generated revenue up 6.9%. For the first quarter of 2020, the company published a performance of 4,207 million dirhams (417 million USD). Mobile data has also contributed significantly to the revenues of this sector.
According to Abdeslam Ahizoune, the chairman of the board of directors of Maroc Telecom, “the results of this first quarter are driven by the growth of the customer base”. The number of group customers reached nearly 69 million at the end of March 2020, up 11.3% year-on-year, driven by the increase in the number of consumers in Morocco and especially in international subsidiaries with integration from Tigo Chad since July 1, 2019.
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